Panhandle Federal Credit Union Mortgage Rates, Fees & Info

Wellington, KS

LEI: 549300KZ01YWJR4OIS58

Tax ID: 48-0644752

5 stars - Updated: 12/3/24 - out of 5 stars, based on 6 reviews

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

Review & Overview

Panhandle Federal Credit Union is a smaller credit union specializing in Refi and Home Purchase loans. Panhandle Federal Credit Union has a high proportion of conventional loans. Their top markets by origination volume include: Wichita, Winfield, and Hutchinson among others. We have data for 3 markets. (Some data included below & more in-depth data is available with an active subscription.)

Panhandle Federal Credit Union has an average approval rate when compared to the average across all lenders. Panhandle Federal Credit Union is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have relatively high rates.

We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.

Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

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SimulatedRates™

Mortgage Type
Simulated Rate Simulation Date
30 Year Conventional Purchase 6.27% 12/3/24
30 Year Conventional Refi 6.27% 12/3/24
15 Year Conventional Purchase 5.68% 12/3/24
15 Year Conventional Refi 5.68% 12/3/24
15 Year Cash-out Refi 5.68% 12/3/24
15 Year FHA Refi 5.68% 12/3/24
These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.

Panhandle Federal Credit Union Mortgage Calculator






Your Estimates

Estimated Loan Payment: Update the calculator values and click calculate payment!

This is not an official calculator from Panhandle Federal Credit Union. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

The default purchase price is the median sales price across the US for 2022Q4, per FRED.


Originations

35

Origination Dollar Volume (All Markets)

$4,775,000

Awards

PANHANDLE FEDERAL CREDIT UNION 30 Year Conventional Loans gold PANHANDLE FEDERAL CREDIT UNION 30 Year Conventional Loans gold PANHANDLE FEDERAL CREDIT UNION 30 Year Conventional Loans gold PANHANDLE FEDERAL CREDIT UNION 30 Year Conventional Loans gold
Show all (4) awards

Relative Rate

Panhandle Federal Credit Union's average 30 year fixed mortgage rate was 5.71%.

The 2023 average 30 year fixed rate mortgage across all markets and lenders was 6.48%.

This yields a difference of -0.77%.

Relative Fees (Closing Costs)

Panhandle Federal Credit Union's average total fees/closing costs for a 30 year fixed rate mortgage were $1,426.

The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including both points & up-front fees in addition to origination fees) were $9,089.

Top Markets

Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.

Market Originations Total Value Average Loan Average Fees Average Rate
WICHITA, KS (FHA|USDA|VA) 29 $3,805,000 $131,207 $1,207 5.60%
Winfield, KS (FHA|USDA|VA) 5 $755,000 $151,000 $1,157 5.43%
Hutchinson, KS (FHA|USDA|VA) 1 $215,000 $215,000 $1,874 5.59%
Panhandle Federal Credit Union's top markets include Wichita, Winfield, and Hutchinson among others.

Their top states include:
  • Kansas (FHA|USDA|VA)
  • Similar Lenders

    We use machine learning to identify the top lenders compared against PANHANDLE FEDERAL CREDIT UNION based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    PANHANDLE FEDERAL CREDIT UNION
    Similarity Rank: 6
    HOME BANK AND TRUST COMPANY
    Similarity Rank: 60
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    MID AMERICAN
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    Similarity Rank: 413
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    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 35 $4,775,000 $136,429 $1,219 5.57%

    For 2023, Panhandle Federal Credit Union's most frequently originated type of loan was Conventional, with 35 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Refi 18 $2,450,000 $136,111 $866 5.55%
    Home Purchase 17 $2,325,000 $136,765 $1,592 5.60%

    For 2023, Panhandle Federal Credit Union's most frequently cited loan purpose was Refi, with 18 originations. The 2nd most popular reason was Home Purchase, with 17 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 21 $3,845,000 $183,095 $1,426 5.71%
    15 Year 10 $860,000 $86,000 $1,194 5.52%
    20 Year 1 $55,000 $55,000 $518 5.59%
    3 Year 1 $5,000 $5,000 $100 5.09%
    5 Year 1 $5,000 $5,000 $51 4.10%
    Other 1 $5,000 $5,000 $101 5.25%

    For 2023, Panhandle Federal Credit Union's most frequently cited loan duration was 30 Year, with 21 originations. The 2nd most popular length was 15 Year, with 10 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 23 $2,665,000 $115,870
    4-5% 8 $1,720,000 $215,000
    6-7% 2 $220,000 $110,000
    3-4% 1 $105,000 $105,000
    7-8% 1 $65,000 $65,000

    During 2023, Panhandle Federal Credit Union's average interest rate for loans was 5.71%, while their most frequently originated rate bucket for loans was 5-6%, with 23 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 18 $950,000 $52,778 $944 5.74%
    $100k-200k 8 $1,170,000 $146,250 $1,126 5.33%
    $200k-400k 8 $2,230,000 $278,750 $1,909 5.44%
    $400k-600k 1 $425,000 $425,000 $1,383 5.59%

    2023 saw Panhandle Federal Credit Union place emphasis on $100,000 or less loans with 18 originations, totaling $950,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $50k-75k 11 $1,055,000 $95,909 $1,041 5.68%
    $100k-150k 8 $1,580,000 $197,500 $1,245 5.28%
    $75k-100k 7 $995,000 $142,143 $1,865 5.50%
    $50k or less 6 $280,000 $46,667 $813 5.95%
    $250k+ 2 $550,000 $275,000 $1,147 5.59%
    $150k-250k 1 $315,000 $315,000 $1,014 4.99%

    Panhandle Federal Credit Union lent most frequently to those with incomes in the $50k-75k range, with 11 originations. The second most popular income band? $100k-150k, with 8 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    <20% 15 $2,145,000 $143,000 $1,266 5.41%
    20-30% 12 $1,490,000 $124,167 $1,365 5.74%
    30-36% 6 $920,000 $153,333 $963 5.52%
    38% 2 $220,000 $110,000 $752 5.99%

    Panhandle Federal Credit Union lent most frequently to those with DTI ratios of <20%, with 15 originations. The next most common DTI ratio? 20-30%, with 12 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 35 $4,775,000 $136,429 $1,219 5.57%

    Approval Rates

    Total approvals of all applications
    89.74%

    Panhandle Federal Credit Union has an average approval rate.

    Pick Rate

    Approvals leading to origination

    Points and Fees

    Points Originations Total Value Average Loan
    NA 35 $4,775,000 $136,429

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    35 $4,775,000 $136,429

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 2 $200,000 $100,000 $1,070 5.49%
    40-60% 6 $560,000 $93,333 $1,075 5.23%
    60-80% 16 $2,760,000 $172,500 $1,319 5.80%
    80-100% 8 $1,240,000 $155,000 $1,588 5.69%
    Under 20% 3 $15,000 $5,000 $84 4.81%